Receivables

12 Months Ended

Dec. 31, 2014

Accounts, Notes, Loans and Financing Receivable [Line Items]

Receivables

RECEIVABLES

(a) Accounts Receivable - Details for accounts receivable included on the balance sheets as of December 31 were as follows (in millions):

	Alliant Energy				IPL				WPL
	2014		2013		2014		2013		2014		2013
Customer, less allowance for doubtful accounts		$84.5		$81.8		$—		$—		$77.3		$73.0
Unbilled utility revenues	85.4		92.3		—		—		85.4		92.3
Deferred proceeds	177.2		203.5		177.2		203.5		—		—
Other, less allowance for doubtful accounts	80.2		95.7		39.5		43.4		23.1		33.1
		$427.3		$473.3		$216.7		$246.9		$185.8		$198.4

Allowance for doubtful accounts at December 31 was as follows (in millions):

	Alliant Energy				IPL				WPL
	2014		2013		2014		2013		2014		2013
Customer		$3.7		$1.4		$—		$—		$3.7		$1.4
Other	1.4		3.4		0.4		0.7		0.5		0.3
		$5.1		$4.8		$0.4		$0.7		$4.2		$1.7

(b) Sales of Accounts Receivable - IPL maintains a Receivables Agreement whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. IPL pays a monthly fee to the third party that varies based on interest rates, seasonal limits on cash proceeds and the amount of cash proceeds received from the third party. In March 2014, IPL extended through March 2016 the purchase commitment from the third party to which it sells its receivables. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. In exchange for the receivables sold, IPL receives cash proceeds of up to $180 million from the third party. Cash proceeds are used by IPL to meet short-term financing needs, and cannot exceed the current seasonal limit or amount of receivables available for sale, whichever is less. The seasonal limit on cash proceeds as of December 31, 2014 was $150 million.

As of December 31, 2014, IPL sold $204.6 million of receivables to the third party, received $22.0 million in cash proceeds and recorded deferred proceeds of $177.2 million. Deferred proceeds represent IPL’s interest in the receivables sold to the third party. At IPL’s request, deferred proceeds are paid to IPL from collections of receivables, after paying any required expenses incurred by the third party and the collection agent. Corporate Services acts as collection agent for the third party and receives a fee for collection services. IPL believes that the allowance for doubtful accounts related to its sales of receivables is a reasonable approximation of credit risk of the customers that generated the receivables. Refer to Note 14 for discussion of the fair value of deferred proceeds.

IPL’s maximum and average outstanding cash proceeds related to the sales of accounts receivable program were as follows (in millions):

	2014	2013	2012
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)	$150.0	$170.0	$160.0
Average outstanding aggregate cash proceeds (based on daily outstanding balances)	46.4	105.9	119.8

In 2014, 2013 and 2012, IPL’s costs incurred related to the sales of accounts receivable program were not material.

As of December 31, the attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions):

	2014	2013
Customer accounts receivable	$134.8	$151.6
Unbilled utility revenues	69.7	86.2
Other receivables	0.1	0.2
Receivables sold to third party	204.6	238.0
Less: cash proceeds (a)	22.0	29.0
Deferred proceeds	182.6	209.0
Less: allowance for doubtful accounts	5.4	5.5
Fair value of deferred proceeds	$177.2	$203.5
Outstanding receivables past due	$19.9	$21.5

(a) Changes in cash proceeds are presented in “Sales of accounts receivable” in operating activities in Alliant Energy’s and IPL’s cash flows statements.

Refer to Note 9(b) for discussion of IPL’s issuance of $250 million of senior debentures in 2014. A portion of the proceeds from the issuance was used by IPL in 2014 to reduce cash proceeds received from the third party under its sales of accounts receivable program.

Additional attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions):

	2014	2013	2012
Collections reinvested in receivables	$1,997.9	$1,880.8	$1,771.6
Credit losses, net of recoveries	11.4	11.9	10.0

(c) Whiting Petroleum Tax Sharing Agreement - Prior to an initial public offering of Whiting Petroleum in 2003, Alliant Energy and Whiting Petroleum entered into a tax separation and indemnification agreement pursuant to which Alliant Energy and Whiting Petroleum made certain tax elections. These tax elections had the effect of increasing the tax basis of the assets of Whiting Petroleum’s consolidated tax group based on the sales price of Whiting Petroleum’s shares in the initial public offering. The increase in the tax basis of the assets was included in income in Alliant Energy’s U.S. federal income tax return for the calendar year 2003. Pursuant to the tax separation and indemnification agreement, Whiting Petroleum paid Resources the final payment of $26 million in 2014, which represented the present value of certain future tax benefits expected to be realized by Whiting Petroleum through future tax deductions. The final payment resulted in a decrease in “Current assets - Other” on Alliant Energy’s balance sheet in 2014. The $26 million received by Alliant Energy is presented in operating activities in its cash flows statement in 2014.

(d) Franklin County Wind Project Cash Grant - The ARRA provides incentives for wind projects placed into service between January 1, 2009 and December 31, 2012. In accordance with the ARRA, Alliant Energy filed an application with the U.S. Department of the Treasury in February 2013 requesting a cash grant for a portion of the qualifying project expenditures of the Franklin County wind project that was placed into service in December 2012. Alliant Energy elected to record the anticipated cash grant as a reduction of the carrying value of the Franklin County wind project. In 2013, Alliant Energy received $62.4 million of proceeds from the cash grant, which are presented in investing activities in Alliant Energy’s cash flows statement in 2013. The grant proceeds were used by Alliant Energy to reduce short-term borrowings incurred during the construction of the wind project.

IPL [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Receivables

RECEIVABLES

(a) Accounts Receivable - Details for accounts receivable included on the balance sheets as of December 31 were as follows (in millions):

	Alliant Energy				IPL				WPL
	2014		2013		2014		2013		2014		2013
Customer, less allowance for doubtful accounts		$84.5		$81.8		$—		$—		$77.3		$73.0
Unbilled utility revenues	85.4		92.3		—		—		85.4		92.3
Deferred proceeds	177.2		203.5		177.2		203.5		—		—
Other, less allowance for doubtful accounts	80.2		95.7		39.5		43.4		23.1		33.1
		$427.3		$473.3		$216.7		$246.9		$185.8		$198.4

Allowance for doubtful accounts at December 31 was as follows (in millions):

	Alliant Energy				IPL				WPL
	2014		2013		2014		2013		2014		2013
Customer		$3.7		$1.4		$—		$—		$3.7		$1.4
Other	1.4		3.4		0.4		0.7		0.5		0.3
		$5.1		$4.8		$0.4		$0.7		$4.2		$1.7

(b) Sales of Accounts Receivable - IPL maintains a Receivables Agreement whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. IPL pays a monthly fee to the third party that varies based on interest rates, seasonal limits on cash proceeds and the amount of cash proceeds received from the third party. In March 2014, IPL extended through March 2016 the purchase commitment from the third party to which it sells its receivables. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. In exchange for the receivables sold, IPL receives cash proceeds of up to $180 million from the third party. Cash proceeds are used by IPL to meet short-term financing needs, and cannot exceed the current seasonal limit or amount of receivables available for sale, whichever is less. The seasonal limit on cash proceeds as of December 31, 2014 was $150 million.

As of December 31, 2014, IPL sold $204.6 million of receivables to the third party, received $22.0 million in cash proceeds and recorded deferred proceeds of $177.2 million. Deferred proceeds represent IPL’s interest in the receivables sold to the third party. At IPL’s request, deferred proceeds are paid to IPL from collections of receivables, after paying any required expenses incurred by the third party and the collection agent. Corporate Services acts as collection agent for the third party and receives a fee for collection services. IPL believes that the allowance for doubtful accounts related to its sales of receivables is a reasonable approximation of credit risk of the customers that generated the receivables. Refer to Note 14 for discussion of the fair value of deferred proceeds.

IPL’s maximum and average outstanding cash proceeds related to the sales of accounts receivable program were as follows (in millions):

	2014	2013	2012
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)	$150.0	$170.0	$160.0
Average outstanding aggregate cash proceeds (based on daily outstanding balances)	46.4	105.9	119.8

In 2014, 2013 and 2012, IPL’s costs incurred related to the sales of accounts receivable program were not material.

As of December 31, the attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions):

	2014	2013
Customer accounts receivable	$134.8	$151.6
Unbilled utility revenues	69.7	86.2
Other receivables	0.1	0.2
Receivables sold to third party	204.6	238.0
Less: cash proceeds (a)	22.0	29.0
Deferred proceeds	182.6	209.0
Less: allowance for doubtful accounts	5.4	5.5
Fair value of deferred proceeds	$177.2	$203.5
Outstanding receivables past due	$19.9	$21.5

(a) Changes in cash proceeds are presented in “Sales of accounts receivable” in operating activities in Alliant Energy’s and IPL’s cash flows statements.

Refer to Note 9(b) for discussion of IPL’s issuance of $250 million of senior debentures in 2014. A portion of the proceeds from the issuance was used by IPL in 2014 to reduce cash proceeds received from the third party under its sales of accounts receivable program.

Additional attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions):

	2014	2013	2012
Collections reinvested in receivables	$1,997.9	$1,880.8	$1,771.6
Credit losses, net of recoveries	11.4	11.9	10.0

WPL [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Receivables

RECEIVABLES

(a) Accounts Receivable - Details for accounts receivable included on the balance sheets as of December 31 were as follows (in millions):

	Alliant Energy				IPL				WPL
	2014		2013		2014		2013		2014		2013
Customer, less allowance for doubtful accounts		$84.5		$81.8		$—		$—		$77.3		$73.0
Unbilled utility revenues	85.4		92.3		—		—		85.4		92.3
Deferred proceeds	177.2		203.5		177.2		203.5		—		—
Other, less allowance for doubtful accounts	80.2		95.7		39.5		43.4		23.1		33.1
		$427.3		$473.3		$216.7		$246.9		$185.8		$198.4

Allowance for doubtful accounts at December 31 was as follows (in millions):

	Alliant Energy				IPL				WPL
	2014		2013		2014		2013		2014		2013
Customer		$3.7		$1.4		$—		$—		$3.7		$1.4
Other	1.4		3.4		0.4		0.7		0.5		0.3
		$5.1		$4.8		$0.4		$0.7		$4.2		$1.7